What is the difference between GDP and GNP - SS2 Economics Meaning of National Income Concepts And Their Uses Question
What is the difference between GDP and GNP?
A
GDP measures the economic output of a country's citizens, while GNP measures the economic output of a country's residents both domestically and abroad.
B
GDP measures the economic output of a country's residents both domestically and abroad, while GNP measures the economic output of a country's citizens.
C
GDP measures the economic output of a country's residents, while GNP measures the economic output of a country's government.
D
None of the above
correct option: b
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